Registered number
04013441
Doors4Security Limited
Unaudited Filleted Accounts
30 June 2023
Doors4Security Limited
Registered number: 04013441
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 564,053 524,393
Current assets
Stocks 1,956,045 1,233,786
Debtors 4 1,060,837 957,231
Cash at bank and in hand 950,253 1,263,905
3,967,135 3,454,922
Creditors: amounts falling due within one year 5 (1,129,164) (889,551)
Net current assets 2,837,971 2,565,371
Total assets less current liabilities 3,402,024 3,089,764
Creditors: amounts falling due after more than one year 6 (281,518) (360,656)
Provisions for liabilities (23,581) (9,432)
Net assets 3,096,925 2,719,676
Capital and reserves
Called up share capital 970 970
Share premium 26,514 26,514
Capital redemption reserve 50 50
Profit and loss account 3,069,391 2,692,142
Shareholders' funds 3,096,925 2,719,676
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N H Shatwell
Director
Approved by the board on 18 March 2024
Doors4Security Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Plant and machinery over 5 and 10 years
Motor vehicles over 4 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 22 21
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 July 2022 488,562 14,373 141,410 644,345
Additions - 44,353 29,225 73,578
Disposals - - (23,500) (23,500)
At 30 June 2023 488,562 58,726 147,135 694,423
Depreciation
At 1 July 2022 13,808 14,148 91,996 119,952
Charge for the year 5,021 3,702 16,191 24,914
On disposals - - (14,496) (14,496)
At 30 June 2023 18,829 17,850 93,691 130,370
Net book value
At 30 June 2023 469,733 40,876 53,444 564,053
At 30 June 2022 474,754 225 49,414 524,393
4 Debtors 2023 2022
£ £
Trade debtors 1,056,926 957,231
Other debtors 3,911 -
1,060,837 957,231
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 80,418 78,881
Trade creditors 487,160 446,276
Taxation and social security costs 197,347 310,903
Other creditors 364,239 53,491
1,129,164 889,551
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 281,518 360,656
7 Loans 2023 2022
£ £
Creditors include:
Instalments falling due for payment after more than five years 42,246 74,597
Secured bank loans 199,437 227,037
The bank loan is secured by a legal mortgage over the company's freehold property along with fixed and floating charges over certain of the company's other assets.
8 Other information
Doors4Security Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 11
Greenfield Farm Trading Estate
Greenfield Road
Congleton
Cheshire
CW12 4TR
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